About Liquity (LQTY)
Liquity is a borrowing and lending protocol where users can obtain loans of Liquity’s USD stablecoin, LUSD, by staking collateral. In contrast to competitors like MakerDAO, Liquity loans carry a 0% interest rate but charge a fee for loan creation. The minimum loan size on Liquity is 2,000 LUSD. Whereas Liquity itself does not provide a frontend interface to interact with the protocol, it offers its native utility token, LQTY, to incentivize the development of frontend interfaces by third parties.
LQTY is an ERC-20 token built on the Ethereum network. LQTY is used for staking on the Liquity platform; as well as for incentivizing front-end operators.
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